Verrica Pharmaceuticals (NASDAQ:VRCA) PT Lowered to $11.00 at Royal Bank of Canada

Verrica Pharmaceuticals (NASDAQ:VRCA) had its target price reduced by stock analysts at Royal Bank of Canada from $13.00 to $11.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock.

Several other research firms also recently weighed in on VRCA. Needham & Company LLC restated a “hold” rating and set a $12.00 price target on shares of Verrica Pharmaceuticals in a research report on Thursday. Brookline Capital Management restated a “hold” rating on shares of Verrica Pharmaceuticals in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Verrica Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $11.75.

Verrica Pharmaceuticals Trading Down 9.7 %

VRCA stock opened at $1.31 on Friday. The company’s 50-day simple moving average is $2.98 and its 200-day simple moving average is $5.91. The company has a quick ratio of 2.23, a current ratio of 2.36 and a debt-to-equity ratio of 29.58. Verrica Pharmaceuticals has a 52-week low of $1.04 and a 52-week high of $11.41. The firm has a market cap of $55.57 million, a P/E ratio of -0.75 and a beta of 1.45.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its earnings results on Wednesday, August 14th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.06. Verrica Pharmaceuticals had a negative net margin of 625.06% and a negative return on equity of 591.84%. The business had revenue of $5.18 million for the quarter, compared to analyst estimates of $4.70 million. As a group, equities analysts forecast that Verrica Pharmaceuticals will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling at Verrica Pharmaceuticals

In other Verrica Pharmaceuticals news, CEO Ted White sold 32,469 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $7.06, for a total value of $229,231.14. Following the completion of the sale, the chief executive officer now owns 250,121 shares in the company, valued at approximately $1,765,854.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Verrica Pharmaceuticals news, CEO Ted White sold 32,469 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $7.06, for a total value of $229,231.14. Following the completion of the sale, the chief executive officer now owns 250,121 shares in the company, valued at approximately $1,765,854.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joe Bonaccorso sold 25,461 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $7.06, for a total transaction of $179,754.66. Following the completion of the sale, the insider now owns 106,931 shares of the company’s stock, valued at approximately $754,932.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 42.60% of the stock is owned by insiders.

Institutional Trading of Verrica Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in VRCA. Perceptive Advisors LLC increased its holdings in shares of Verrica Pharmaceuticals by 40.9% during the 4th quarter. Perceptive Advisors LLC now owns 7,099,182 shares of the company’s stock worth $51,966,000 after buying an additional 2,060,199 shares during the last quarter. Avoro Capital Advisors LLC increased its holdings in shares of Verrica Pharmaceuticals by 35.4% during the 4th quarter. Avoro Capital Advisors LLC now owns 3,999,999 shares of the company’s stock worth $29,280,000 after buying an additional 1,045,935 shares during the last quarter. Simplify Asset Management Inc. acquired a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter worth approximately $2,041,000. Renaissance Technologies LLC acquired a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter worth approximately $332,000. Finally, Key Financial Inc acquired a new stake in shares of Verrica Pharmaceuticals during the 2nd quarter worth approximately $69,000. Institutional investors and hedge funds own 42.45% of the company’s stock.

About Verrica Pharmaceuticals

Verrica Pharmaceuticals Inc, a clinical-stage dermatology therapeutics company, develops medications for the treatment of skin diseases in the United States. Its product pipeline comprises YCANTH (VP-102), which is in phase III clinical trial for the treatment of common warts; and has completed phase II clinical trial for the treatment of external genital warts.